Landlord tax clampdown denied

HM Revenue & Customs (HMRC) has denied that private landlords are being targeted with new tax measures.

The group has issued a statement insisting that a crackdown on landlords is not happening and is not being planned.

This follows the issue of approximately 500 letters to landlords and agents in recent weeks, which have requested information concerning income declared on returns.

Property Confidential indicated that the possible increase in HMRC investigation into landlord tax information should act as a stimulus to property investors getting their finances in order.

The website commented: "One thing is certain, if you think you may not have declared the correct income, you should take professional advice on the matter.

"Failure to pay the correct tax could become very costly in the long-term if you are found out."

All landlords in the UK are responsible for giving HMRC accurate details about their earnings and property tax.

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